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Capital gains

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(Querist)
16 March 2015 Is income from sale of ancestral property taxed under capital gains and can exemption from capital gains be taken by investment in land
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Moksha Kalyan ram A

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Moksha Kalyan ram A (Expert)
16 March 2015 Since, the sale is done by the legal successor(s). Inheritance is not a transfer, but sale amounts to be a transfer resulting in capital gains.

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